Texas Assignment of Overriding Royalty Interest Limited As to Depth

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-290
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land, which is limited to depth. Title: Texas Assignment of Overriding Royalty Interest Limited As to Depth: Explained in Detail Description: In the oil and gas industry, the Texas Assignment of Overriding Royalty Interest Limited As to Depth plays a significant role in determining the rights and ownership of mineral interests within specific depths of a property or lease. This detailed description will provide a comprehensive overview of this unique aspect of Texas land and mineral rights law, including relevant keywords. 1. What is an Assignment of Overriding Royalty Interest Limited As to Depth? An Assignment of Overriding Royalty Interest Limited As to Depth is a legal document executed in Texas that assigns a specified percentage or portion of royalty interest rights to a party, specifically limited to a particular depth range within an oil and gas property or lease. This document clearly defines the extent of the assignee's ownership in terms of depth. 2. Types of Texas Assignment of Overriding Royalty Interest Limited As to Depth: a) Fixed Depth Range Assignment: In this type, the assignment assigns overriding royalty interest rights limited to a fixed depth range, such as from the surface to a specific depth interval like 5,000 feet. b) Bottom hole Assignment: This type assigns overriding royalty interest rights limited to the depth at which the well bore penetrates the earth's surface, often referred to as the bottom hole depth. c) Specified Formation Assignment: Here, the assignment restricts the overriding royalty interest to a specific geological formation or reservoir, irrespective of the depth range. d) Department of the Interior (DOI) Lease Assignment: This type pertains to assignments on federal lands regulated by the DOI, which follows specific guidelines and procedures. 3. Keywords related to the Texas Assignment of Overriding Royalty Interest Limited As to Depth: — Overriding Royalty Interest: A non-operating interest in oil and gas leases that entitles the owner to a share of the royalties generated from the production. — Limited As to Depth: Denotes the specific depth range or formation to which the overriding royalty interest is restricted. — Mineral Rights: Refers to the legal rights to explore, extract, and profit from minerals such as oil and gas within a defined property or lease. — Texas Land and Mineral Rights Law: The body of regulations and legal frameworks that govern the ownership, leasing, and distribution of mineral rights in Texas. — Oil and Gas Industry: The sector involved in the exploration, extraction, production, and distribution of oil and natural gas resources. — Lease Agreement: A contractual agreement between the mineral rights' owner (lessor) and the oil and gas company (lessee) regarding the exploration and production of mineral resources in exchange for royalties. Understanding the Texas Assignment of Overriding Royalty Interest Limited As to Depth is crucial for mineral rights owners, oil and gas companies, and individuals involved in the leasing and exploration process. By precisely defining the depth limitations and rights, these assignments protect the interests of all parties involved in the industry's operations and developments within the state of Texas.

Title: Texas Assignment of Overriding Royalty Interest Limited As to Depth: Explained in Detail Description: In the oil and gas industry, the Texas Assignment of Overriding Royalty Interest Limited As to Depth plays a significant role in determining the rights and ownership of mineral interests within specific depths of a property or lease. This detailed description will provide a comprehensive overview of this unique aspect of Texas land and mineral rights law, including relevant keywords. 1. What is an Assignment of Overriding Royalty Interest Limited As to Depth? An Assignment of Overriding Royalty Interest Limited As to Depth is a legal document executed in Texas that assigns a specified percentage or portion of royalty interest rights to a party, specifically limited to a particular depth range within an oil and gas property or lease. This document clearly defines the extent of the assignee's ownership in terms of depth. 2. Types of Texas Assignment of Overriding Royalty Interest Limited As to Depth: a) Fixed Depth Range Assignment: In this type, the assignment assigns overriding royalty interest rights limited to a fixed depth range, such as from the surface to a specific depth interval like 5,000 feet. b) Bottom hole Assignment: This type assigns overriding royalty interest rights limited to the depth at which the well bore penetrates the earth's surface, often referred to as the bottom hole depth. c) Specified Formation Assignment: Here, the assignment restricts the overriding royalty interest to a specific geological formation or reservoir, irrespective of the depth range. d) Department of the Interior (DOI) Lease Assignment: This type pertains to assignments on federal lands regulated by the DOI, which follows specific guidelines and procedures. 3. Keywords related to the Texas Assignment of Overriding Royalty Interest Limited As to Depth: — Overriding Royalty Interest: A non-operating interest in oil and gas leases that entitles the owner to a share of the royalties generated from the production. — Limited As to Depth: Denotes the specific depth range or formation to which the overriding royalty interest is restricted. — Mineral Rights: Refers to the legal rights to explore, extract, and profit from minerals such as oil and gas within a defined property or lease. — Texas Land and Mineral Rights Law: The body of regulations and legal frameworks that govern the ownership, leasing, and distribution of mineral rights in Texas. — Oil and Gas Industry: The sector involved in the exploration, extraction, production, and distribution of oil and natural gas resources. — Lease Agreement: A contractual agreement between the mineral rights' owner (lessor) and the oil and gas company (lessee) regarding the exploration and production of mineral resources in exchange for royalties. Understanding the Texas Assignment of Overriding Royalty Interest Limited As to Depth is crucial for mineral rights owners, oil and gas companies, and individuals involved in the leasing and exploration process. By precisely defining the depth limitations and rights, these assignments protect the interests of all parties involved in the industry's operations and developments within the state of Texas.